Kandi Technologies Group (NASDAQ:KNDI) Share Price Crosses Below Two Hundred Day Moving Average – Here’s What Happened

Kandi Technologies Group, Inc. (NASDAQ:KNDI)’s stock price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.18 and traded as low as $0.87. Kandi Technologies Group shares last traded at $0.8803, with a volume of 244,739 shares.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Kandi Technologies Group in a research note on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of “Sell”.

Kandi Technologies Group Stock Down 2.4%

The company has a market capitalization of $75.25 million, a P/E ratio of -1.52 and a beta of 0.36. The firm’s 50-day moving average price is $1.07 and its 200 day moving average price is $1.18.

Institutional Trading of Kandi Technologies Group

Several institutional investors and hedge funds have recently modified their holdings of KNDI. Connor Clark & Lunn Investment Management Ltd. grew its position in Kandi Technologies Group by 83.8% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 28,640 shares of the company’s stock worth $41,000 after purchasing an additional 13,059 shares in the last quarter. Squarepoint Ops LLC purchased a new position in shares of Kandi Technologies Group in the 3rd quarter worth approximately $37,000. Citadel Advisors LLC grew its holdings in shares of Kandi Technologies Group by 72.0% in the third quarter. Citadel Advisors LLC now owns 127,787 shares of the company’s stock valued at $155,000 after acquiring an additional 53,496 shares in the last quarter. Finally, Quinn Opportunity Partners LLC purchased a new stake in shares of Kandi Technologies Group during the third quarter valued at approximately $80,000. 3.66% of the stock is owned by hedge funds and other institutional investors.

About Kandi Technologies Group

Kandi Technologies Group, Inc engages in designing, developing, manufacturing, and commercializing electric vehicle (EV) products and parts in the People's Republic of China and the United States. It offers also off-road vehicles, including all-terrain vehicles, utility vehicles, go-karts, electric scooters, and electric self-balancing scooters, as well as related parts; and battery packs and smart battery swap system.